Stock Analysis on Net

Balance Sheet: Liabilities and Stockholders’ Equity 
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

AT&T Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in millions

Microsoft Excel
Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Debt maturing within one year 8,902 5,089 2,637 5,249 7,060 9,477 11,302 15,268 13,757 7,467 9,626 6,210 27,333 24,630 23,755 24,016 19,505 3,470 5,898 15,576 17,067
Note payable to DIRECTV 130 271 619 1,047 1,245 1,180
Accounts payable and accrued liabilities 33,113 35,657 31,935 31,173 31,973 35,852 34,659 33,038 38,389 42,644 36,642 36,659 46,845 50,661 47,926 49,429 48,245 50,051 44,064 44,429 42,940
Advanced billings and customer deposits 3,951 4,099 4,059 3,981 3,713 3,778 3,703 3,833 3,922 3,918 3,705 3,603 5,183 5,303 4,991 4,932 5,029 6,176 5,862 5,723 5,960
Dividends payable 2,033 2,027 2,027 2,026 2,088 2,020 2,020 2,020 2,082 2,014 2,013 2,013 2,086 3,749 3,749 3,749 3,829 3,741 3,741 3,741 3,737
Liabilities from discontinued operations 85
Current liabilities 47,999 46,872 40,658 42,429 44,834 51,127 51,684 54,159 58,150 56,173 52,257 49,189 82,494 85,588 81,601 82,126 76,608 63,438 59,565 69,469 69,704
Long-term debt, excluding maturing within one year 117,259 118,443 126,375 125,355 125,704 127,854 126,701 128,012 123,727 128,423 123,854 129,747 180,225 152,724 155,406 155,767 160,694 153,775 152,980 153,388 147,202
Noncurrent deferred tax liabilities 59,144 58,939 58,461 58,918 58,820 58,666 58,671 57,972 57,294 57,032 56,055 55,301 65,963 65,226 63,405 61,732 61,886 60,472 60,448 58,387 58,491
Postemployment benefit obligation 9,040 9,025 8,750 8,744 8,743 8,734 6,494 6,696 7,060 7,260 6,152 9,775 11,294 12,649 14,158 14,876 14,723 18,276 17,928 18,167 18,324
Noncurrent operating lease liabilities 17,433 17,391 17,331 17,174 17,291 17,568 17,730 18,311 18,413 18,659 18,741 18,749 20,917 21,261 21,510 21,637 21,766 22,202 22,056 22,230 21,584
Other noncurrent liabilities 24,753 23,900 23,884 24,082 23,441 23,696 25,591 25,258 27,883 28,849 29,426 28,365 29,746 30,223 29,466 28,726 28,229 28,358 30,520 32,804 34,600
Noncurrent portion of note payable to DIRECTV 96 258
Deferred credits and other noncurrent liabilities 110,370 109,255 108,426 108,918 108,295 108,664 108,486 108,237 110,650 111,800 110,374 112,190 127,920 129,455 128,797 126,971 126,604 129,308 130,952 131,588 132,999
Noncurrent liabilities 227,629 227,698 234,801 234,273 233,999 236,518 235,187 236,249 234,377 240,223 234,228 241,937 308,145 282,179 284,203 282,738 287,298 283,083 283,932 284,976 280,201
Total liabilities 275,628 274,570 275,459 276,702 278,833 287,645 286,871 290,408 292,527 296,396 286,485 291,126 390,639 367,767 365,804 364,864 363,906 346,521 343,497 354,445 349,905
Redeemable noncontrolling interest 1,981 1,980 1,978 1,977 1,975 1,973 1,972 1,970
Preferred stock, $1 par value
Common stock, $1 par value 7,621 7,621 7,621 7,621 7,621 7,621 7,621 7,621 7,621 7,621 7,621 7,621 7,621 7,621 7,621 7,621 7,621 7,621 7,621 7,621 7,621
Additional paid-in capital 106,302 109,108 109,354 111,515 111,599 114,519 116,890 118,833 120,774 123,610 122,933 122,850 129,637 130,112 130,035 129,941 129,856 130,175 130,139 130,046 129,966
Retained earnings (deficit) 4,215 1,871 (185) 2 (1,570) (5,015) (7,203) (10,698) (15,187) (19,415) 6,127 2,128 45,041 42,350 41,091 38,947 41,154 37,457 55,094 56,045 58,534
Treasury stock, at cost (14,252) (15,023) (15,087) (15,268) (15,277) (16,128) (16,150) (16,158) (16,166) (17,082) (17,148) (17,160) (16,553) (17,280) (17,319) (17,332) (17,342) (17,910) (17,950) (17,945) (17,957)
Accumulated other comprehensive income (loss) (142) 795 648 1,440 2,167 2,300 2,545 2,305 2,354 2,766 2,873 2,307 3,290 3,529 2,343 3,119 4,199 4,330 649 129 (385)
Stockholders’ equity attributable to AT&T 103,744 104,372 102,351 105,310 104,540 103,297 103,703 101,903 99,396 97,500 122,406 117,746 169,036 166,332 163,771 162,296 165,488 161,673 175,553 175,896 177,779
Noncontrolling interest 16,114 13,873 13,931 14,037 14,080 14,145 14,152 14,172 8,950 8,957 17,572 17,561 17,520 17,523 17,532 17,550 17,591 17,567 19,503 17,557 17,670
Total stockholders’ equity 119,858 118,245 116,282 119,347 118,620 117,442 117,855 116,075 108,346 106,457 139,978 135,307 186,556 183,855 181,303 179,846 183,079 179,240 195,056 193,453 195,449
Total liabilities and stockholders’ equity 397,467 394,795 393,719 398,026 399,428 407,060 406,698 408,453 400,873 402,853 426,463 426,433 577,195 551,622 547,107 544,710 546,985 525,761 538,553 547,898 545,354

Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).


Debt Maturing Within One Year
The short-term debt showed notable fluctuation, initially decreasing sharply from $17,067 million in March 2020 to $3,470 million in December 2020, then spiking again to over $24,000 million by the end of 2021. Subsequently, a significant decline occurred through 2022 and 2023, reaching a low of around $2,637 million by March 2025 with some volatility toward the end.
Accounts Payable and Accrued Liabilities
This item varied moderately over the periods, peaking at around $50,661 million in December 2020 and generally trending downward after mid-2021, culminating near $33,113 million by March 2025, suggesting a gradual reduction in short-term obligations to suppliers and accrued expenses.
Advanced Billings and Customer Deposits
These liabilities remained relatively stable, fluctuating between approximately $3,600 million and $6,000 million throughout the period, with a tendency toward the lower range after 2021, signaling consistent customer prepayments or deposits with minor variations.
Dividends Payable
Dividends payable remained fairly steady, generally approximating $2,000 million from late 2021 onward, indicating a maintained or stable dividend policy during the latter periods, despite some higher figures noted before 2021.
Current Liabilities
Current liabilities followed a pattern of increase until late 2021, reaching above $85,000 million, followed by a marked decrease throughout 2022 and early 2023, settling in the range of $40,000 to $47,000 million by early 2025. This signifies a net reduction in short-term liabilities over time.
Long-Term Debt
Long-term debt excluding current maturities showed a strong drawdown beginning in 2021, dropping from a peak of approximately $180,225 million at the start of 2022 down to around $117,259 million by March 2025. This denotes considerable deleveraging efforts or refinancing activities.
Deferred Tax Liabilities and Other Noncurrent Liabilities
Noncurrent deferred tax liabilities remained relatively stable in the $58,000 to $65,000 million range, exhibiting minor oscillations with no significant trend. Other noncurrent liabilities decreased steadily over time, indicative of ongoing reductions in long-term obligations outside of debt and taxes.
Postemployment Benefit Obligation
This obligation declined notably from over $18,000 million in early 2020 to approximately $6,000 to $9,000 million range in subsequent years, demonstrating substantial reductions likely due to settlements, plan amendments, or demographic changes affecting benefits liabilities.
Noncurrent Operating Lease Liabilities
These liabilities decreased moderately from around $22,000 million in 2020 to roughly $17,400 million by the end of 2024 and into 2025, reflecting possible lease terminations or renegotiations.
Redeemable Noncontrolling Interest
This item appeared from late 2022 onward, showing a slight upward trend from $1,970 million to approximately $1,981 million by the end of 2024, indicating minor changes in noncontrolling interests subject to redemption.
Stockholders’ Equity
The total stockholders’ equity attributable to the company exhibited a decline from $177,779 million in early 2020 to a trough of approximately $97,500 million by late 2022. It subsequently recovered moderately to stabilize around $103,700 million by early 2025. This fluctuation reflects underlying net income volatility, equity transactions, or asset revaluations.
Retained Earnings (Deficit)
Retained earnings experienced a significant decrease, turning negative during late 2022 and early 2023, before gradually improving into positive territory by early 2025. This suggests periods of net losses or large distributions offsetting prior retained earnings, followed by recovery.
Additional Paid-in Capital and Treasury Stock
Additional paid-in capital showed a gradual decline from approximately $130,139 million to around $106,302 million by early 2025. Treasury stock at cost similarly decreased in negative value, indicating buyback activities or treasury stock adjustments over time.
Accumulated Other Comprehensive Income (Loss)
This component fluctuated widely, moving from a negative balance in early 2020 to positive highs in subsequent years before a slight decline near zero by early 2025. These movements reflect changes in unrealized gains or losses on investments, foreign currency adjustments, or pension-related adjustments.
Total Liabilities and Stockholders’ Equity
Total liabilities peaked near $390,639 million in early 2022, then declined to approximately $275,000 million by early 2025, indicating significant liability reduction. Combined with the stockholders’ equity trend, total capitalization remained more stable but also slightly decreased over this period.